Topic: DECENTRALIZED OR CENTRALIZED? - page 20. (Read 3920 times)

every second there is always someone trying to hack and steal bitcoin, it is certainly a very risky if bitcoin security level is not enough, one of the systems that make safe bitcoin is a decentralized system where every bitcoin financial transaction is recorded and needs to be confirmed on each block before reaching the intended wallet, I would agree more with this system

decentralized of course, because that is the platform of bitcoin and cryptos, where once you get the money it will be forever yours, no laws or orders can take it away from you, because when work so hard and get paid but still there is a chance that our money being "stolen" by the laws, that scenario will not happen with bitcoin, that is why it is important to have decentralized system around, as a "second opinion".

Decentralized or centralized beckkoin. Both have a number of advantages and disadvantages. One thing is clear: if it is decentralized, it will be poorly accepted by the states, and its high volatility will not allow us to use bitcoin as the main currency, as well as currency in international settlements. In addition, the high volatility of bitcoin will hamper the achievement of its high cost. With the high volatility of bitcoin, a panic among investors will arise earlier than it can reach high costs. Therefore, the decentralized nature of bitcoin will prevent the achievement by bitcoin of those qualities that we would like to see in it.

I cannot understand your logic here   bitcoin is decentralized and if people are using centralized exchanges and wallet provider, so what ?, they are just using those services because they find it easy for them to handle things, that is what we need, we need good front end system for bitcoin so that everyone will be able to use it and even my grand parents need to use it, if that is what it takes to be used by everyone, why not.

What is broad set of charges, i did not understand the depletion feature you are talking about bitcoin. The price of bitcoin cannot the controlled by some individual, yes there are earlier investors who holds a large amount of coins, unless they plan to sell off the coins nothing is going to happen.

In my opinion the decentralized cryptocurrency has revived people's freedom and for that the need for Bitcoin increases every second. Without a third person, the money as much as you want can be send to every point of the world with a small fee and it is a great invention for humanity. I don't think people will use the old system anymore after looking at the taste of the decentralized system.

Exactly. There's a wide variety of centralized choices in this world which are regulatory compliant and don't have scalability issues. However, I believe that decentralized payment systems like Bitcoin are the way to go for many obvious reasons. The level of freedom, and accessibility, allows Bitcoin and other cryptocurrencies to grow at a faster rate in terms of usage and popularity. Since no single entity can control a decentralized cryptocurrency like Bitcoin, people can rest assured that their funds are safe against freezing or confiscation from third parties.

Centralized systems like PayPal, Ripple, Visa, and Mastercard, are extremely vulnerable to freezing of funds, confiscation, single points of failure, and more. Therefore, Bitcoin would be best to stay as a decentralized cryptocurrency for years to come even if it must sacrifice its efficiency in the mainstream world, to maintain its true value proposition. Being decentralized, means that it's extremely resistant to external manipulation, attacks, and more. Just my thoughts

A centralized Bitcoin has its advantages because most governments would welcome the crypto currency into their country and a lot of them will unban it making it soar even higher than usual.So in terms of financial profits, a centralized bitcoin will be good for the investors.

Nobody can change the decentralized nature of bitcoin and it is important to understand that it is the feature that has drawn millions of users to it all over the world. For me, I enjoy the fact that I don't have to pass through any centralized body before my transaction is completed. Exchanges can be centralized for some reasons.

Bitcoin has a general depletion feature and to exclude Bitcoin's broad set of charges is not possible. If Bitcoin is collectively known, the price of Bitcoin can control by its owners. At present Bitcoin is decentralized, but some Bitcoin owners in large numbers are influencing the way it moves.

I agree.Bitcoin in the first place is decentalized in nature and i don't think it will be centralized in the future.If people want a centralized one,then there's no need to use bitcoin because we have our fiat currency that is already centralized.And yes it's the decentralization of bitcoin that will mostly attract new investors and the fact that bitcoin is also a volatile one.

The technology behind Bitcoin is still decentralized, but many people use centralized services like Exchanges and Wallet providers to interact with it. This makes the use case centralized and this is not good for Bitcoin. Why develop a decentralized technology, if you are going to use it in a centralized way?

Most problems occur when services are centralized, so we should start to promote that. Ask your merchant if you can pay directly to a Bitcoin address and not via payment processors or exchanges. 

As well as the great advantage of decentralization, it is a great opportunity for the lower strata of the population to earn and grow richer. In a centralized system, there is practically no such possibility.

DECENTRALIZED.  that's what its for on the first place. and its working well so far for people who understand the risk of investing in volatile assets. like me.

giving the government (WHO/WHICH GOV'T) to govern BTC would be a mess!

I think that bitcoin should be decentralized. Thus he was conceived. Decentralization is the basis of bitcoin's popularity and security. Decentralization makes it impossible to make a hacker attack on bitcoin.

If bitcoin become centralized, it's not anymore differ to fiat currency that controlled by the government,''Big Whales'' has the sovereignity to dictate it's
preferential price in the market. It's no more secured because it will pass on a single point of data collection (timestamp) and it's very weak against hacker's. Ergo,  there is a higher probability that you will lose your precious coins.


Likewise, decentralized network provide more privacy and security to your wealth,because blockchain is not timestamp, they’re built in such a way that they cannot be modified once they’ve been recorded. Hacker's has to get thru multiple computers to hack to the network, it's a great tool for every single individual. Blockchain is for everyone.

I prefer decentralized and I see bitcoin using that technology which means the security of the technology is so high that it is used for bitcoin security, not only that for decentralized infrastructure more convincing.

If you want Bitcoin to become a centralized system which is governed and controlled by only few people, then there are many other system you can easily switch to them like PayPal, western union Payments and most importantly banks. You will not face the problem of decentralized system which is governed by people, hence giving every individual power rather you will be a puppet in the hands of few people only.

Well, one thing for sure, is that a centralized currency would have full support from governments and banks, as well as being compliant to regulations, allowing its users to become protected against theft or fraud. With a centralized currency, people would be able to claim their funds back (in the case of theft) and even feel confident in its value as it becomes stable over time. However, a centralized currency would suffer from many risks such as a single point of failure, manipulation, freezing of funds, among others. With a decentralized currency, those risks are mitigated as anyone would be able to participate in it. Also, ID verification won't be necessary to use such a currency, and there would be no need to trust a middleman or a third party.

However, decentralization has risks involved too where there's no way people could claim their funds back, there's limited scalability, and the risks of hacks/theft becomes higher. Therefore, even with such drawbacks, a decentralized currency would be the most viable option against third party interference and manipulation.

Bitcoin would do just fine as is, by being a decentralized cryptocurrency for anyone to use and enjoy. But, if it were to become centralized, then it can easily be shut down by governments, banks, or other external entities. The most important thing here, IMO would be security and reliability, and if Bitcoin would need to sacrifice its speed and efficiency for such features, then it would be ideal to preserve its decentralization for years to come. In the end, I believe that Bitcoin being a decentralized cryptocurrency would be more favorable as people will be able to use it regardless of their financial status, race, gender, political influence, among other things. Just my opinion

the combination between the two features might be better, in my opinion, centralized is more secure, but the regulation, legalization, and rules inside are too complicated, it would be better if decentralized implement their security system because it is better, and regulation of the centralized must be abandoned.